Gap Releases First Line of NFTs on Tezos Blockchain

The company dropped a non-fungible token collection, joining a laundry list of fashion giants such as Adidas, Macy’s and Dolce & Gabbana

article-image

Source: Shutterstock

share

key takeaways

  • One Gap NFT currently goes for 2 XTZ or roughly $8.41 worth of Tezos, as of press time
  • The new collection features artwork by Brandon Sines

Gap Inc. (GPS.N) released a line of non-fungible tokens (NFTs) on Thursday, joining a laundry list of major retailers to step into the world of digital collectibles. The collection, dubbed “Gap Threads,” will be powered by Tezos, which touts itself as a more energy-efficient blockchain. 

One NFT currently goes for roughly $8.41 worth of Tezos and can be purchased on the San Francisco-based company’s website

The NFTs were designed by artist Brandon Sines and will be released periodically throughout the month, according to a statement from the firm. Additionally, certain holders of the asset will receive a real-life Gap hoodie, along with their NFT.

Source: The Gap

Brian David-Marshall, president of InterPop which collaborated with Gap to create the collection, described NFTs as a way for companies to bridge the gap between physical and digital ownership.

“These NFTs will unlock an opportunity for fans to get their hands on an exclusive real world apparel drop from this collection. This is a great example of how NFTs are empowering creators and brands globally to connect with their fan bases on new levels,” David-Marshall said in a statement to Blockworks. 

Other major brands such as Adidas, Macy’s and Dolce & Gabbana released NFT plans in the past few months.

Adidas dropped 30,000 NFTs, recording $23.5 million worth of ether in sales last year. The collection went down in history as the most widely-distributed NFT drops, despite reports of failed transactions, according to the company. 

Garrette David, co-founder of Atomic Form, said it’s no surprise that large brands are venturing into NFTs, describing the partnerships as “a total no brainer.”

“Streetwear culture and clothing lines [have] historically leveraged their branding, [intellectual property] and their community to guide their sales and distribution,” David, who runs a Web3 startup, told Blockworks. “NFTs are a logical continuum. Aforementioned historical strategies translate well into the NFT space because it is a new medium for their IP and drives merchandising costs to be very low because the goods are code rather than physical goods.”


Get the news in your inbox. Explore Blockworks newsletters:

  • Blockworks Daily: The newsletter that helps thousands of investors understand crypto and the markets, by Byron Gilliam.
  • Empire: Start your day with top crypto insights from David Canellis and Katherine Ross.
  • Forward Guidance: Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin.
  • 0xResearch: Get alpha directly in your inbox — market highlights, charts, degen trade ideas, governance updates, and more.
  • Lightspeed: All things Solana, in your inbox, every day from Jack Kubinec and Jeff Albus.
  • The Drop: The newsletter for crypto collectors and traders, covering games, tokens, apps, memes and more.
Tags

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 18 - 20, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

monad ecosystem report graphic.png

Research

Monad's testnet launch has shown promise with 57 geographically distributed validators and over 20 live applications on day one. However, the ecosystem's true test will come with mainnet as it transitions from testing to real economic activity alongside the launch of the native gas token.

article-image

A national strategic reserve of XRP, SOL, ADA, ETH and BTC only makes sense as political theater

article-image

Altcoin season may still be a ways off, and that could be the new norm as we adjust to potential “microcycles”

article-image

PayPal’s Jose Fernandez da Ponte explained why he’s not only focused on stablecoin market caps when growing PYUSD

article-image

Base’s new FlashBlocks feature sparks a debate about scaling metrics

article-image

CME’s planned product stands to give sophisticated investors a better way to manage volatility in a growing market

article-image

Latest PCE data inched down just slightly in January, but we remain a ways off from the Fed’s 2% target